But the Commission said it was concerned about the way in which the Conservative MP's team filled out spending returns for his successful bid to win the Richmond Park seat in the May general election.
Mr Goldsmith may have under-reported his spending in the final weeks before polling day by at least 1,185, which would have resulted in an overspend of 966 during this period, said the Commission.
But the Commission found that, even if this were the case, his overall spending came in well under the 39,856 total permitted. and it found no evidence of intentional rule-breaking.
Speaking on behalf of his campaign team following yesterday's ruling, Mr Goldsmith said: "We are delighted to have been vindicated as we always knew we would be."